I say it's useless because I needed to change it out anyway, and yes cranks do have bearings inside the cup thing whatever it's called, and the only thing the crank says on the crank arm is T R A C E R.
For some reason, the old Sugino cranks do have bearings inside the cup thing, mine only had one left in it when I took it off. I just need to upgrade it due that it's so messy. The warped crank is cleaner and nicer.
"Nicer" for values that don't include "it's made of steel" and "it's warped". But as others say, are you sure it isn't meant to be that shape? To check whether it really is warped, fit it to the bike and try pedalling. Like Globalti says, if it's warped, you'll feel the pedal "turning" under your foot. Pics of both the Sugino cranks and the "warped" crank will help greatly. (Still puzzled about the missing bearing thing too.)
